West Fraser Timber Co. Ltd. $WFG Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 75.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 28,200 shares of the company's stock after acquiring an additional 12,100 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in West Fraser Timber were worth $2,069,000 at the end of the most recent reporting period.

• Forget Tariffs, Landstar and West Fraser Can Still Rally

A number of other large investors also recently made changes to their positions in the business. Aviva PLC grew its position in shares of West Fraser Timber by 6.3% in the second quarter. Aviva PLC now owns 37,803 shares of the company's stock valued at $2,772,000 after purchasing an additional 2,251 shares during the period. Metis Global Partners LLC lifted its position in West Fraser Timber by 5.5% during the second quarter. Metis Global Partners LLC now owns 25,472 shares of the company's stock worth $1,868,000 after buying an additional 1,336 shares during the period. Lightrock Netherlands B.V. boosted its stake in West Fraser Timber by 1,075.2% in the 2nd quarter. Lightrock Netherlands B.V. now owns 259,303 shares of the company's stock worth $19,007,000 after buying an additional 237,239 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in West Fraser Timber by 14.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 31,763 shares of the company's stock valued at $2,327,000 after buying an additional 3,908 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in West Fraser Timber by 33.1% in the 2nd quarter. Allianz Asset Management GmbH now owns 168,456 shares of the company's stock valued at $12,328,000 after buying an additional 41,851 shares during the period. Hedge funds and other institutional investors own 40.23% of the company's stock.

West Fraser Timber Trading Up 0.9%

Shares of WFG stock opened at $60.31 on Friday. The company has a quick ratio of 1.32, a current ratio of 2.39 and a debt-to-equity ratio of 0.05. West Fraser Timber Co. Ltd. has a fifty-two week low of $57.34 and a fifty-two week high of $100.33. The firm's 50 day moving average price is $67.05 and its two-hundred day moving average price is $71.51. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of -18.00 and a beta of 1.12.

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West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly earnings data on Wednesday, October 22nd. The company reported ($2.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.72) by ($0.91). The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.38 billion. West Fraser Timber had a negative return on equity of 2.63% and a negative net margin of 4.35%. On average, analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 14th. Shareholders of record on Thursday, September 25th were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $1.28 annualized dividend and a yield of 2.1%. West Fraser Timber's dividend payout ratio (DPR) is -38.21%.

Analyst Ratings Changes

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Several research analysts have recently weighed in on WFG shares. Royal Bank Of Canada cut their price objective on shares of West Fraser Timber from $92.00 to $91.00 and set an "outperform" rating on the stock in a report on Sunday, October 26th. Zacks Research lowered shares of West Fraser Timber from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of West Fraser Timber in a research note on Wednesday, October 8th. Raymond James Financial lowered their price objective on shares of West Fraser Timber from $75.00 to $70.00 and set a "market perform" rating for the company in a research note on Wednesday, October 15th. Finally, TD Securities dropped their price objective on West Fraser Timber from $90.00 to $88.00 and set a "buy" rating for the company in a report on Friday, October 24th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $87.25.

Get Our Latest Research Report on West Fraser Timber

West Fraser Timber Profile

West Fraser Timber Co Ltd., a diversified wood products company, engages in manufacturing, selling, marketing, and distributing lumber, engineered wood products, pulp, newsprint, wood chips, and other residuals and renewable energy. It offers spruce-pine-fir, douglas fir-larch, hem-fir, and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products, as well as particleboards.

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